Key Points
- Director D. Jonathan Merriman bought 7,000 PodcastOne shares at an average price of $2.21, investing $15,470 and increasing his holdings by 1.85% to 386,132 shares. The purchase follows several additional insider buys since August.
- PodcastOne reported a quarterly loss of $0.05 per share and revenue of $16.12 million, below the $17.76 million analyst estimate. Analysts expect a full-year loss of approximately $0.12 per share.
- PodcastOne shares opened at $2.31, with a market capitalization of about $69.9 million and a one-year trading range of $1.50 to $5.20. Analysts maintain a consensus “Sell” rating, while institutional investors own only 2.87% of the stock.
PodcastOne, Inc. (NASDAQ:PODC - Get Free Report) Director D Merriman purchased 7,000 shares of the business's stock in a transaction dated Wednesday, September 30th. The shares were purchased at an average price of $2.21 per share, for a total transaction of $15,470.00. Following the purchase, the director owned 386,132 shares of the company's stock, valued at approximately $853,351.72. This trade represents a 1.85% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.
D Jonathan Merriman also recently made the following trade(s):
- On Thursday, September 24th, D Merriman bought 11,000 shares of PodcastOne stock. The shares were acquired at an average price of $2.21 per share, for a total transaction of $24,310.00.
- On Friday, September 18th, D Merriman purchased 6,700 shares of PodcastOne stock. The stock was acquired at an average price of $2.36 per share, with a total value of $15,812.00.
- On Wednesday, September 16th, D Merriman acquired 7,700 shares of PodcastOne stock. The shares were acquired at an average price of $2.30 per share, for a total transaction of $17,710.00.
- On Friday, August 21st, D Merriman acquired 15,700 shares of PodcastOne stock. The stock was acquired at an average cost of $2.75 per share, with a total value of $43,175.00.
- On Monday, August 17th, D Merriman purchased 11,300 shares of PodcastOne stock. The stock was bought at an average price of $2.80 per share, for a total transaction of $31,640.00.
- On Friday, August 14th, D Merriman acquired 17,000 shares of PodcastOne stock. The shares were bought at an average cost of $3.20 per share, for a total transaction of $54,400.00.
PodcastOne Stock Performance
Shares of PodcastOne stock opened at $2.31 on Friday. The company has a market capitalization of $69.88 million, a PE ratio of -19.25 and a beta of 2.18. The company has a 50-day simple moving average of $2.80 and a two-hundred day simple moving average of $3.26. PodcastOne, Inc. has a one year low of $1.50 and a one year high of $5.20.
PodcastOne (NASDAQ:PODC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.05) EPS for the quarter. PodcastOne had a negative return on equity of 17.56% and a negative net margin of 5.01%.The firm had revenue of $16.12 million for the quarter, compared to the consensus estimate of $17.76 million. On average, equities analysts predict that PodcastOne, Inc. will post -0.12 earnings per share for the current fiscal year.
Institutional Investors Weigh In On PodcastOne
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PODC. Integrated Wealth Concepts LLC acquired a new position in shares of PodcastOne in the 2nd quarter valued at about $32,000. Permanens Capital L.P. purchased a new position in PodcastOne during the second quarter valued at approximately $45,000. BlackRock Inc. purchased a new position in PodcastOne during the second quarter valued at approximately $280,000. NewEdge Advisors LLC lifted its holdings in PodcastOne by 168.2% in the first quarter. NewEdge Advisors LLC now owns 88,455 shares of the company's stock valued at $180,000 after acquiring an additional 55,473 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new stake in PodcastOne in the 1st quarter worth approximately $30,000. 2.87% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts recently commented on the stock. Wall Street Zen cut shares of PodcastOne from a "hold" rating to a "sell" rating in a research note on Saturday, August 22nd. Weiss Ratings reissued a "sell (d-)" rating on shares of PodcastOne in a report on Monday, September 21st. Finally, Zacks Research lowered PodcastOne from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 19th. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Sell".
View Our Latest Stock Analysis on PodcastOne
About PodcastOne
(
Get Free Report)
PodcastOne is a digital media and podcasting company that operates a podcast network and provides services for podcast creators, advertisers and audiences. Its business includes podcast production, distribution, hosting, audience development and advertising sales, with programming spanning news, entertainment, sports, comedy, business and lifestyle topics.
The company also offers podcast-related technology and analytics designed to help creators manage and grow their shows, while giving advertisers opportunities to reach targeted audiences through audio and other digital media.
Further Reading
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